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Maverix Advisory Group adds Kevin Van Eck as principal

Housing Wire

Van Eck will assume the role of principal after a 16-year tenure at @properties. It offers a wide variety of services in the mortgage and real estate spaces, including pipeline development, integration support, recruiting, branding, strategic partnerships, sales support, events, mergers and acquisitions, and fundraising.

Principal 235
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Compass acquires luxury brokerage in Washington, D.C.

Housing Wire

WFP has 150 agents and has executed $43 billion in sales volume over the past 25 years. According to WFP, the brokerage has the highest average sales volume per agent and the highest average sale price in the areas where it operates. It will continue to operate under its own brand and its leadership will be retained.

Brokerage 330
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Navigating movement in the mortgage industry series: Post-closing matters are important too

Housing Wire

Below are some of the items that wont necessarily be on your radar when you initially explore an acquisition or sale, but may need to be dealt with on a post-closing basis. Assumed name filings The sale of Sellers name is important in many mortgage M&A transactions for continuity, transition and marketing purposes.

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Mortgage Coach and Sales Boomerang snag new investor

Housing Wire

Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach , two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. Both firms will maintain their existing brands and teams.

Investor 390
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Mr. Cooper exits reverse servicing space with sale to MAM

Housing Wire

Mortgage servicing, origination and transaction-based services company Mr. Cooper Group announced on Tuesday the sale of its reverse mortgage servicing portfolio – operating under the Champion Mortgage brand – to Mortgage Assets Management (MAM). The sale of Champion.

Sales 418
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FHA institutes new payment supplement partial claim

Housing Wire

The new option Partial claims are interest-free loans from HUD that borrowers use to make their payments current, with the remainder of the late payments added to the principal and extended for 30 years. During this period, the mortgage will not be modified, facilitating the sale to Ginnie Mae. million COVID-19 loss-mitigation actions.

Principal 459
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Rocket’s profits drop dramatically to $60M in Q2 2022

Housing Wire

The stunning decline in profitability suggests Rocket has much work to do as higher mortgage rates wipe out refinancing opportunities and even depress purchase sales. The gain-on-sale margin, however, grew from 2.78% to 2.92% in the period. . The company originated $34.5 billion in closed loans from April to June, down from $83.7

Principal 435